Spouses in South Korea can now divide cryptocurrency assets in divorce cases, as the law recognizes them as part of joint marital property. According to IPG Legal, under Article 839-2 of the Korean Civil Code, spouses can claim the division of both tangible and intangible assets, including cryptocurrencies.
The South Korean Supreme Court in 2018 confirmed that cryptocurrency possesses economic value and is considered property, making it possible to include it in the list of assets subject to division during a divorce. If one spouse knows about the existence of cryptocurrency wallets belonging to their partner, the court may initiate a "fact investigation" to determine the value of these assets.
A unique aspect of cryptocurrencies is that all transactions are stored on the blockchain, making the process of tracking investments easier compared to cash.
